Dollar gains after Citigroup resultsBy William L. WattsLast...

Dollar gains after Citigroup results

By William L. Watts
Last update: 6:53 a.m. EDT April 18, 2008Print RSS Disable Live Quotes

LONDON (MarketWatch) -- The U.S. dollar extended gains against the Japanese yen and the euro Friday after Citigroup, the largest U.S. bank, reported it lost $5.1 billion or $1.02 a share a share in the first quarter, and announced more than $10 billion in writedowns. The fact that the figures weren't "disastrously worse than expected" appeared to give the dollar a lift amid signs markets are becoming more immune "to numbers of this magnitude," said Daragh Maher, a currency analyst at Calyon Bank. The dollar trimmed gains but remains up 0.2% against the euro at $1.5854 and is up 0.7% against the Japanese currency at 103.25 yen.